Ospreyfrank PLC (04134409): administration
- Status
- Administration ended
- Administration began
- 2015-06-26
- Administrators
- Lindsey J Cooper, Jeremy Nigel Ian Woodside
- Administrators' firm
- BDO
- Formerly
- Proventec PLC; Flintstone Technologies PLC; CFB Technologies PLC
- Incorporated
- 2001-01-02
- Location
- Manchester
- Industry
- 70100 Activities of head offices
Why it went into administration
- Sustained trading losses
- Cash flow / liquidity pressure
From the administrators' statement
Relevant extracts from the Company’s audited financial statements and management accounts are summansed below
Draft Audited Audited Management Year ended Year ended Accounts at 30September 30 September 11 June 2015 2013 2012 £7000 £7000 £000 FIXED ASSETS Tangible fixed assets - - - Investment in subsidiaries - 518 183 CURRENT ASSETS Debtors 674 932 740 Cash at bank and in hand 33 338 596 Other 4 . . 711 1,270 1,336 CREDITORS Amounts falling due within one year (365) (490) (452) NET CURRENT ASSETS 346 780 884 Creditors due after one year - - (7,387) NET ASSETS / LIABILITIES 346 1,298 (6,320) CAPITAL AND RESERVES Share Capital 335 325 3,979 Share Premium Reserve ll 13,607 12,256 Merger Reserve - 295 - Profit and Loss Account - (12,929) (22,555) SHAREHOLDER FUNDS 346 1,298 (6,320)
Debtors include the sum of £674,198 due from Proventec Services Limited who entered into CVL on 9 July 2015 This ts a 100% subsidiary of the Company. Lindsey Cooper and Jeremy Woodside of Baker Tilly Restructuring and Recovery LLP (°BTR&R”) were appointed as Joint Liquidators
Administrators' statement of proposals (2015-08-28) · Companies House register